GrowthRocks Session 01 - 20150330 (NL)

Growth Hacking Intro

Nestor Louizidis, CEO @GrowthRocks

GrowthRocks Session 01 - 20150330 (NL)

Why start or join a startup?

1. Find meaning in life?

2. Find friends and social activity?

3. For the money?

4. Something to do?

5. Change the world?

6. Why not?

7. Help others?

8. All of the above?2

Or any other business for that matter?

GrowthRocks Session 01 - 20150330 (NL)

Prerequisites

You will always need at least 3 things:

1. Time. There are 24 hours in each day. Period.

2. Money. There is no free lunch. Someone always

pays for you, most of the time it will be you.

3. People. There is only one of you. How much can

you do each day?

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GrowthRocks Session 01 - 20150330 (NL)

Startup Ingredients - Part 1

● Idea → market, proof, love

● Team → attitude, history, matching skills, contribution,

roles

● Commitment → drive, duration, focus, stamina, lifestyle

● Organization → setup, planning, measurement,

execution

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GrowthRocks Session 01 - 20150330 (NL)

Startup Ingredients - Part 2

When do you start Product Dev and how much

time are u going to spend on it: ???%

When do you start Marketing activities and

how much time are u going to send on them:

???%

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Why would you split it like

that?

GrowthRocks Session 01 - 20150330 (NL)

What is Marketing?

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Marketing is communicating the

value of a product, service or brand

to customers, for the purpose of

promoting or selling that product,

service, or brand.

GrowthRocks Session 01 - 20150330 (NL)

Inbound vs OutboundInbound marketing is promoting a company

through blogs, podcasts, video, eBooks,

enewsletters, whitepapers, SEO, social

media marketing, and other forms of

content marketing which serve to attract

customers.[1][2][3] In contrast, buying

attention,[1] cold-calling, direct paper mail,

radio, TV advertisements,[2] sales flyers,

spam, telemarketing[3] and traditional

advertising[4] are considered "outbound

marketing". Inbound marketing refers to

marketing activities that bring visitors in,

rather than marketers having to go out to

get prospects' attention.

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GrowthRocks Session 01 - 20150330 (NL)

What is a marketing plan?Product specific, market specific, or company-wide plan that describes

activities involved in achieving specific marketing objectives within a set

timeframe. A market plan begins with the identification (through market

research) of specific customer needs and how the firm intends to fulfill

them while generating an acceptable level of return. It generally includes

analysis of the current market situation (opportunities, trends and

threats) and detailed action programs, budgets, sales forecasts,

strategies, and projected financial statements.

Read more: http://www.businessdictionary.com/definition/marketing-plan

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GrowthRocks Session 01 - 20150330 (NL)

What is Growth Hacking?

“...activities involved in achieving specific marketing

objectives within a set timeframe…”

Growth Hacking is an expression of value: getting as

much as possible measurable return from marketing

actions while minimizing the marketing spending.

By this definition, ‘best value’ is achieved by

embedding the marketing in the product itself. We call

this design a viral loop. Why?

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GrowthRocks Session 01 - 20150330 (NL)

Back to the split: why

50/50?

● Most startups have a product

● Most startups don’t have customers

● Immediate market feedback

● Provable traction

● Experimentation and learning

● No time lag after launch for first sales

● MVP confirmation10

GrowthRocks Session 01 - 20150330 (NL)

The Funnel

What is ‘The

Funnel?’

What is the shape of

the perfect funnel?

http://growthrocks.com/blog/growth-action-plan-and-funnel/

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GrowthRocks Session 01 - 20150330 (NL)

The Funnel

You should operate by

designing your

marketing actions and

processes in such a

way as to enlarge each

subset as close as

possible to its parent

superset.

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GrowthRocks Session 01 - 20150330 (NL)

Traction Channels: Part 1

There are 19 traction channels defined in Gabriel Weinberg

and Justin Mares 2014 book:

Traction: a Startup Guide to Getting CustomersViral marketing (I), Public Relations (O), Unconventional PR (O), Search

Engine Marketing (O), Social and display Ads (O), Offline Ads (O), Search

Engine Optimization (I), Content Marketing (I), eMail Marketing (IO),

Engineering as Marketing (I), Targeting Blogs (I), Business Development (O),

Sales (O), Affiliate Programs (IO), Existing Platforms (IO), Trade Shows (O),

Offline Events (O), Speaking Engagements (IO), Community Building (I)

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GrowthRocks Session 01 - 20150330 (NL)

Traction Channels: Part 2

1. Brainstorm

2. Rank

3. Prioritize

4. Test

5. Focus

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GrowthRocks Session 01 - 20150330 (NL)

Traction Experiments: Looking for

gold

Early success depends on

finding growth in one traction

channel.

Once found it should be

exploited to its fullest extend.

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GrowthRocks Session 01 - 20150330 (NL)

Pre-launch campaign?

What is a pre-launch campaign?

Should startups do it and what are the

risks?

Always be measuring! Always be testing!

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GrowthRocks Session 01 - 20150330 (NL)

What is a Growth Plan?

1. Main Target

2. Duration of Growth Project

3. Main Milestones (if any)

4. Determine Traction channels

5. Define the experiment(s) & how to measure

6. Implement

7. Measure

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GrowthRocks Session 01 - 20150330 (NL)

Workshop (15’)1. Each member of your group should write what

he/she believes your startup should have as a goal

or target for the next 30 days

2. Write down why you chose this target as compared

to other targets that crossed your mind

3. Discuss with other group members and

finalize/justify one goal/target per team

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GrowthRocks Session 01 - 20150330 (NL)

Present your goal

● Each team presents their goal and

their rationale

● Each team accepts questions on

their methodology

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GrowthRocks Session 01 - 20150330 (NL)

Goal/Target Test

Is your goal a growth goal?

Is it clearly defined? i.e. Get 2000 visitors per month

Can it be measured accurately?

Does it consist of micro-goals?

Can it be translated to actions easily or it takes a lot of

explaining?

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GrowthRocks Session 01 - 20150330 (NL)

Homework Part 1

Create a growth plan to achieve this target/goal

● Research & propose traction channel(s)

● Research your goal/target (have others done it

and how)

● Do Research on how to measure the results of

your actions against your goal

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GrowthRocks Session 01 - 20150330 (NL)

Homework Part 2

Submit:

1. One page with your prioritized traction channels

2. One page with a detailed description of your goal

and your justification. Why this particular goal?

3. One page with a list of the actions in your growth

plan and how you plan to measure the results

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GrowthRocks Session 01 - 20150330 (NL)

What is Marketing?

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A Professor was explaining marketing concepts to the Students:-

1. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" - That's Direct Marketing

2. You're at a party with a bunch of friends and see a gorgeous girl. One of your friends goes up to her and pointing at you says: "He's

very rich. Marry him." - That's Advertising

3. You see a gorgeous girl at a party. You go up to her and get her telephone number. The next day, you call and say: "Hi, I'm very rich.

Marry me." - That's Telemarketing

4. You're at a party and see gorgeous girl. You get up and straighten your tie, you walk up to her and pour her a drink, you open the door

(of the car)for her, pick up her bag after she drops it, offer her ride and then say:"By the way, I'm rich. Will you marry me?" - That's Public

Relations

5. You're at a party and see gorgeous girl. She walks up to you and says: "You are very rich! Can you marry ! me?" - That's Brand

Recognition

6. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" She gives you a nice hard slap on your face. -

That's Customer Feedback

7. You see a gorgeous girl at a party. You go up to her and say: "I am very rich. Marry me!" And she introduces you to her husband. -

That's demand and supply gap

8. You see a gorgeous girl at a party. You go up to her and before you say anything, another person come and tell her: "I'm rich. Will you

marry me?" and she goes with him - That's competition eating into your market share

9. You see a gorgeous girl at a party. You go up to her and before you say: "I'm rich, Marry me!" your wife arrives. - That's restriction for

entering new markets.